International Insurance News Archives

Japan’s Heat Stroke Insurance Boom Amid Record Temperatures Could Signal New Trends for US Market

August 6, 2024August 5, 2024 Marc

With record temperatures soaring above 40°C (104°F) in various locations, Japan has experienced a surge in heat-related illnesses this summer. This unprecedented heat wave has led the Japan Meteorological Agency to issue widespread alerts against heatstroke and heat exhaustion, urging residents to stay indoors during peak daylight hours. A Growing Demand for Heat Stroke Insurance The extreme weather has not only impacted daily life but has also driven a significant increase in the demand for heat-related illness insurance. Over 12,000 people were hospitalized across Japan in just one week due…

$350M Ukraine war insurance available from Aon, Development Finance Corp

June 21, 2024June 20, 2024 G. Turner

War Insurance - Recovery Economy - Ukraine Flag

The coverage program is designed to support capital investment and economic recovery in the country Aon and the US International Development Finance Corporation are collaborating to offer a $350 million war insurance program meant to help Ukraine with capital investment and economic recovery. The program is in two main parts The program includes $300 million in coverage for the healthcare and agriculture sectors in Ukraine, and another $50 million in war insurance, that is, additional coverage for the insurers providing protection there. The reinsurance strategy was designed in a partnership…

Kampgrounds of America partners with Co-operators RV insurance company

June 4, 2024June 3, 2024 H. Cutner

The partnership involves a network of over 500 campgrounds in the US and Canada Co-operators, a financial services co-operative, and Kampgrounds of America (KOA), a network of over 500 campgrounds in the Untied States and Canada, have partnered in a new collaboration for RV insurance. Recreational vehicle coverage is increasingly lucrative since the pandemic The US campgrounds company and Canadian financial services and RV insurance co-operative feel that they are a natural fit for providing this new option to consumers in both countries. “Canadians represent a significant demographic of Kampgrounds…

Lemonade homeowners insurance now available to French property owners

April 11, 2024April 10, 2024 Marc

The artificial intelligence-powered coverage is now being sold in France through an expanded partnership. The headline making home insurance company Lemonade, which is a digital coverage provider powered by artificial intelligence and social impact, recently announced that it has expanded its partnership with BNP Paribas Cardif and this has allowed them to start selling in France. French property owners can now purchase Lemonade policies Millions of property owners across France are now able to purchase extensive home insurance policies through Lemonade, a company known for a seamless digital experience from…

Rising ship insurance in the Red Sea causes US investors pain

February 19, 2024February 16, 2024 Live Insurance News

Underwriters have been steeply raising premiums to US, UK, and Israeli firms due to risks. Ship insurance companies have been hiking premiums by as much as 50 percent for US, UK, and Israeli firms sailing through the Red Sea due to the increased risks associated with those vessels in that region. Some providers are avoiding that business due to Houthi targeting. The increased ship insurance premiums and avoidance of business traveling through the Red Sea has to do with the chance that certain vessels could be targeted by Houthis from…